Smart Contracts

Smart contracts are digital agreements stored and signed using blockchain technology. They are designed to self-execute when the required terms and conditions are met. Generally, Smart contracts execute digitized agreements automatically without the need for intermediaries. They can also automate workflows to trigger the following action when the predetermined conditions are met.

Smart contracts are the backbone of the decentralized finance sector. Smart contracts have been proven beneficial in various areas, including royalty payments, supply chain management, conversion of different assets into NFTs, real estate, and healthcare data management.